Commentary

D8.354 Receipts of replacement value

Corporate tax
Corporate tax | Commentary

D8.354 Receipts of replacement value

Corporate tax | Commentary

D8.354 Receipts of replacement value

A receipt of value does not occasion the withdrawal of relief when the recipient of the value (the original recipient) gives replacement value to the provider of the value (the original supplier). However, in order for this to be the case, the amount of the replacement value must be no less than the original value (calculated as described in D8.353) and must be a qualifying receipt1.

A receipt is a qualifying receipt if it is one or more of the following2:

  1.  

    (a)     any payment by the original recipient to the original supplier, other than an 'excepted payment' (see below); in this case the replacement value is simply the amount of the payment; before the rules were changed by FA 2001, the legislation did not refer to 'excluded payments'; instead a qualifying receipt was any payment by the original recipient to the original supplier, a payment was a

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial